Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Nado against Bitget−0.221%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$540.544% of the position

Long on Bitget Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.458%+$46 · spread now −0.221%, 7d avg −0.025%

Together, before fees+0.458%+ Points / potential airdropNado: Active · farm board+$46 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.196% cheaper against Bitget than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XPLUSDT	0.09720	0.0100	pay 0.0050% / 4h	1h 50m	$8.6M	$11.1M	75x
Short	Nado XPL-PERP	0.09698	0.0100	get 0.0012% / 1h	50m 55s	$1.4M	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BitgetbpFee NadobpOrdersPrice spread, now −0.221%Rate

Funding earned: $0
Price spread: −0.221% → −0.025%: −$19.62
Slippage, 4 orders: −$35.41
Fee Bitget: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$74.03
Costs to cover: 0.544%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Nado: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bitget live order book, 3 min ago	3.09 bp	20.6 bp −$21	50.5 bp −$505	doesn't fit	doesn't fit
Sell Nado live order book, 3 min ago	0.51 bp	8.0 bp −$8	16.9 bp −$169	doesn't fit	doesn't fit

XPL on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack XPL_USDC_PERP	−0.0270%	1h	0.09704	−0.165%	$177K	$281K	10x	as long as short
Lighter XPL	−0.0176%	1h	0.09690	−0.309%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0168%	1h	0.09692	−0.288%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0096% / S +0.0496%	1h	0.09705	−0.157%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09704	−0.165%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09703	−0.179%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.113%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09706	−0.143%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0080%	4h	0.09700	−0.206%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09695	−0.262%	$13K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERPshort	+0.0100%	1h	0.09698	−0.221%	$1.4M	$2.7M	10x
Hyperliquid XPL	+0.0100%	1h	0.09716	−0.042%	$62.6M	$47.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09712	−0.085%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09703	−0.174%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09713	−0.071%	$43.6M	$105.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09716	−0.041%	$47.4M	$53.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09711	−0.093%	$8.9M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09695	−0.258%	$140K	$8K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09707	−0.134%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09706	−0.144%	$12.5M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09710	−0.103%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDTlong	+0.0100%	4h	0.09720	long leg	$8.6M	$11.1M	75x
BingX XPL-USDT	+0.0100%	4h	0.09716	−0.041%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09767	+0.485%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09760	+0.411%	$264K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	−0.103%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09707	−0.132%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.412%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.206%	$204	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09715	−0.051%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09706	−0.149%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09703	−0.176%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09693	−0.278%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09724	+0.041%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09794	+0.761%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4604%	1h	0.09750	+0.307%	$513K	$952K	10x	as long as short